Tom Shippey has likewise seen the transposition of the "Far Green Country" bit in a favorable light. While I usually find myself pretty firmly in accord with his thinking, in this instance, I find the attempt to preserve an element from the original runs amiss.

For all his Catholicism, Tolkien keeps formal religion and strict predictions of an afterlife (at least for us mortals) pretty firmly out of Middle-earth. It is important for the whole unfolding of his legendarium that the premise be kept which is laid out at its beginning—that mortals do not know what happens when they die. That is the Gift of Illúvatar to the secondborn, and, once arrived at, Tolkien sticks to it throughout his published Middle-earth writings. Characters may accept it, affirm it, rebel against it, or attempt to get around it, but they are not given direct promise of a "something better to come" after the inevitability of death; only that death itself, the ability to escape the confines of the world, is a "gift."

Now, we can argue (as we have already begun to do) whether or not the "Far Green Country" vision and its reiteration are simply foreshadowing and follow-through of Frodo's eventual passing into the West or Tolkien's metaphor for an afterlife promised to all of us (and affirmed by his faith.) I suspect it is both. However, I think it is a big point that Tolkien does not directly express the latter but leaves it open to interpretation. I think it certain that he would not have had Gandlaf (or any other character) say it outright. Man is but an ass if he go about to expound this dream.